Report says book deal about Stewart's five months in federal prison could be worth $5M.October 14, 2004: 7:30 AM EDT

NEW YORK (CNN/Money) -
Imprisoned domestic diva Martha Stewart is considering doing a book on her experience in federal prison, according to a published report.

New York magazine reported on its Web site that lawyers working on behalf of Stewart have been quietly approaching book publishing executives about some sort of memoir. Stewart began serving a five-month term at the minimum security prison in Alderson, W. Va. on Oct. 8, although she continues to appeal her conviction on federal obstruction of justice charges.

The magazine said the book deal could be worth more than $5 million.

"The money is getting very high, but she could deliver it when she came out and have it out by the summer," one unidentified source told the magazine.

The magazine said that Crown is emerging as a strong contender. Crown is a unit of Random House, which is a unit of German media conglomerate Bertelsmann. The magazine had no comments from Stewart's spokespersons.

The magazine said initial plans for the book were for a "prison diary," but that further discussions suggest the book might reach further back than that.